Torresco Realty was engaged by the developer of East River Plaza to assemble pieces of “commercial out-parcels” in connection with its 500,000 s.f. retail development site. 528-34 East 119th Street located near the FDR Drive, at that juncture was owner occupied by Doria Enterprises-the parent company of G&J Wholesale Associates and Graces Marketplace. This location represented a parcel needed in the overall assemblage for the plaza.
Torresco Realty successfully negotiated a contract of salefor the assemblage segment by arranging a contingency for Doria’s relocation to a warehouse facility of equal or better accommodations. In a collaboration with New York City Economic Development Corporation, we were able to arrange the purchase of land on Park Avenue for Doria to buy and develop their new import/export headquarters. Upon construction completion of 1735 Park Avenue, the primary transaction on East 119th Street closed title.
Torresco Realty LLC was the sole broker in these transactions.
